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Xtra Energy Corp. (XTPT) is an antimony exploration company focused on developing its flagship project, American Antimony, in Churchill County, Nevada. The company holds a 100% ownership in a 211 lode claim covering the historically documented Antimony King Mine. Their recent achievements include confirming high-grade antimony presence through lab results and satellite imagery analysis. Xtra Energy Corp. aims to be a major supplier of antimony-based products by expanding its antimony-rich assets.
Xtra Energy (OTC PINK:XTPT) announced the acquisition of the Antimony King Mine in the Bernice Mining District of Nevada. This mine, the largest past-producer of antimony in the region, spans four lode claims covering around 80 acres. The acquisition aims to unify the district and enhance the company's flagship project, American Antimony. The site has historically produced stibnite, gold, and cervantite, with reported antimony grades of 12.71% to 33.42%, and selective mining capable of yielding 60% antimony ore.
The consideration for the acquisition involves issuing 2,500 preferred shares, convertible to 5 million common shares of XTPT. Xtra Energy's leadership views this strategic move as a step towards becoming a leading antimony asset in the U.S. The company plans to leverage this acquisition to reshape the antimony market landscape and provide long-term access to this critical metal.
Xtra Energy Corp. has engaged Avrom E. Howard, MSc, PGeo, to conduct a NI 43-101 Technical Report on the American Antimony Project near Eastgate, Nevada. This development is a significant step forward in the exploration and potential development of the project. The project is located approximately 31 miles northeast of Eastgate, Nevada, and Xtra Energy holds 100% ownership of a 4276-acre property with historical antimony mines. Avrom E. Howard is an experienced exploration geologist with international expertise in various mineral commodities and geological settings. He has the necessary qualifications to provide this report in accordance with NI 43-101 guidelines. Xtra Energy's Chairman and CEO, Mac J. Shahsavar, P.Eng., is optimistic about the collaboration and the insights it will bring to the company's strategic decisions.
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